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ABK Opens Branch in Abu Dhabi, 
Plans to Enter in Sharjah, RAK

ABU DHABI - Al Ahli Bank of Kuwait (ABK) on Sunday became the first Kuwaiti bank to make its presence in Abu Dhabi with the opening of its branch in the emirate.

Announcing the opening of the branch, the bank said it has plans to open branches in Sharjah and Ras Al Khaimah as well as further regional expansion in Qatar and the Sultanate of Oman.

ABK, established in Kuwait in 1967, now has 22 branches. It is also the first Kuwaiti bank to establish in Dubai in 1986. The Dubai branch is operating as a full fledged commercial bank, providing international banking services and catering to the banking needs of Kuwaiti and local businessmen in Dubai.

Although the ABK Branch in Abu Dhabi will initially cater mainly to its corporate clients, including trade financing and major projects in Abu Dhabi and the UAE, the branch will also be available to service its retail banking clientele, the bank said. “The Abu Dhabi branch is now ready to begin serving customers.”

Ali Hilal Al Mutairi, deputy chairman and managing director, said: “We are pleased to be the first Kuwaiti bank to be opening in Abu Dhabi. Abu Dhabi is a fast growing emirate that has a huge potential for all our corporate and retail clients to benefit from. We will use our years of expertise and professional management skills to invest in new and ongoing projects.”

Mutairi said the relationship between Kuwait and other Gulf countries is very strong. “ABK, with over forty years of banking excellence, maintains its market confidence and continues to develop strategy and deliver superior service and opportunities to its customers and shareholders. These values will ensure that the relationship remains a mutually beneficial one.”

· issacjohn@khaleejtimes.com